Rental Policies and Procedures

DeDe's Rentals & Property Management, Inc. thanks you for looking to us for assistance with your residential housing needs. We feel an obligation to ensure that properties managed and represented by DeDe's Rentals are rented and maintained in a manner that protects the quality of the dwellings and of the neighborhoods where our tenants reside. For this reason, DeDe's Rentals utilizes a thorough screening process of all applicants for tenancy based on a set of criteria listed below. Applications will not be “pre-screened” outside the standard process under any circumstances and incomplete or falsified applications may be rejected without further notice. All applications submitted become property of DeDe’s Rentals.

We cannot guarantee any unit you have seen will still be available by the time your application is submitted or processed. Units are rented to the first approved applicant who has paid the required costs committing to possession of the property.

BEFORE YOU APPLY

VIEWING AVAILABLE PROPERTIES:

VIEWING: DeDe’s Rentals & Property Management, Inc. (hereafter “Agent” – this term includes and applies to Agency, employees of Agency, and Property Owner interchangeably) does not rent properties to Applicants “sight unseen”. At least one adult Applicant (or Substitute – see below) must view offered unit via one of the available showing methods offered by Agent.

VERIFICATION OF VIEWING: “Authorized Access” (ie Rently) system provides an online log of visitors to any unit; Agent maintains a “sign in roster” for attendees at chaperoned Open Houses. Applicant(s) must be verified on one of those logs as having physically evaluated the premises prior to application submission.

SUBSTITUTE VIEWING: In the event Applicant cannot physically evaluate premises personally (due to distance, relocation, etc), Applicant may assign a Substitute to view premises on their behalf. Substitute’s viewing of premises must be substantiable via (ii) above. Applicant must provide to Agent a Declaration attesting that they accept the physical condition, requirements and limitations of property, and are willingly prepared to apply based solely upon viewing as performed by Substitute. Applicant must thereafter be able to complete process steps 2 and 3 (and all sub-steps) below in a manner that meets Agent requirements for fair and equitable treatment of all Applicants.

INCOME REQUIREMENTS AND SUPPORTING DOCUMENTS

JOINT CONTRIBUTION TO MINIMUM INCOME REQUIREMENTS: Applicants applying to reside together may use combined income/asset/revenue sources to meet minimum income requirements.

MINIMUM AMOUNT OF LEGAL AND VERIFIABLE INCOME REQUIRED: Documented yearly gross income must equal or exceed 36x rent (equal to 3x rent on monthly basis). Income supporting documents must be detailed enough to allow Agent to extrapolate monthly/annual income.

W-2 EMPLOYEES: W-2 Employees must provide three most recent paystubs. Paystubs must be sufficiently detailed to identify employer, and to show year-to-date income. Suspect paystubs will not be considered acceptable for submission or review. If submitting an application during first ninety days of any calendar year, Applicant must provide either last paystub of prior year or Applicant’s prior year W-2, showing prior year income.

W-2 NEW EMPLOYMENT: W-2 Employees who are relying upon a position for which they have not yet collected at least ninety days’ pay must provide an offer/acceptance letter from their new employer, sufficiently detailed enough to identify the start date, hourly or salaried rate, and number of hours that Applicant will reasonably expect to work. Letter must be SIGNED by Employer representative and must be on company letterhead or be generated from an identifiable Company email address.

DOCUMENTATION PROVIDED AS ALTERNATIVE TO W-2: For any income or revenue source other than W-2, Applicant must provide two most recent 1040 filed tax returns and any IRS Schedule(s) needed to validate 1040. If last filed return exceeds 4 months, Applicant must provide filing extension(s) (if appropriate) and independently verifiable “Income and Expense” statement(s) for unfiled period(s) in addition to two most recent filed returns. Additional documentation may be necessary to substantiate “Income and Expense” reported income.

NEWLY-ESTABLISHED SCHEDULE C EMPLOYMENT: Agent will accept for consideration independently verifiable “Income and Expense” Statements and supporting documentation covering AT LEAST nine months’ established self-employment. Agent will not consider newly-established Schedule C employment of less than nine months. See (v.) for documentation needed. Self-employment entity’s existence must be able to be independently verifiable.

OTHER INCOME SOURCES: IRS form 1040 identifies alternates sources of legal, verifiable income which may be used to qualify. Schedule 1, line 22 of 1040 (or similar gross income balance line on newer returns) will be considered as income. See (v.) for documentation needed.

INCOME SOURCES NOT REPORTED ON 1040: Agent may consider, for example, receipt of clear and verifiable documentation showing net proceeds from a recent home sale, inheritance, student loans/grants, or other asset sources not reflected on most recent 1040s. Documentation must indicated source, date of transaction, Applicant’s share of proceeds, etc. See (v.) for additional documentation needed.

“OUTLIER” ALTERNATIVES FOR PROOF OF INCOME STREAM: Agent reserves the right to consider other asset sources, ie investment portfolios, as source of revenue. Agent must be able to reasonably establish the legal and verifiable nature of any asset documentation provided. Applicant’s access to principal balance must be full and unrestricted. Principal balance of asset source must equal or exceed 60x rent (equal to 5x monthly rent). If using “outlier alternatives” to qualify, see (v.) for additional documentation needed.

INFORMATION PROVIDED BY APPLICANT(S): Applications must either be submitted online, or submitted in person at Agent office. If submitting “manual” form, application must be completed in full, front and back, for each Applicant. Agent requires full details of three years or three most recent locations of RESIDENCY (whichever is greater) and EMPLOYMENT (whichever is less). There should be no gaps of time in either residency or employment information provided. All details of timespan involved should be listed, even if, for example, no rent was due or “occupation” was not a paid employment position. All applications must be completed in INK, and must be signed and dated, both front and back.

18+ REQUIREMENTS: Each adult 18 or older must complete, submit and pay for a separate application, even if that individual has no independent residential or employment history.

RESIDENTS: Those UNDER 18 intending to reside at the property full- or part-time must be accounted for on the application as “Co-Occupant”. Any individuals of legal age (18+) must be presented as “Tenants”, not “Co-Occupants”. Applicant must include ALL individuals, adult or minor, who reasonably expect to reside at property, whether at the time of contract execution or in the immediately foreseeable future.

OCCUPANCY AS PRIMARY RESIDENCE: Any adult individual applying to reside in an available property and identified as a “Tenant” must be able to verify that they will occupy the unit in question as their PRIMARY legal residence. Any Applicant who is the Owner or Lessee of a residence they are nominally relocating FROM must be able to substantiate and document plans for that property, indicating their unequivocal relinquishment of occupancy.

VEHICLES: Tenants must properly identify all vehicles of any sort – automobiles, trucks, boats, RVs, motorcycles, or any other mode of transportation. Lessor retains the right to restrict the number and type of vehicles allowed on or proximate to any available rental property.

SMOKING: All properties are classified as “non-smoking”. This prohibition applies to the entirety of the premises, inside and out, and applies equally to tobacco, marijuana, e-cigarettes and any other similar products.

ANIMALS:

PETS: Some, but not all, properties may consider pets. Housing providers’ willingness to consider pets is not all-encompassing; some may consider cats but not dogs, amphibians and/or birds but not mammals, or any other combination of restrictions. Any and all pets, no matter size or species, require an application. An increase in security deposit may be required if the Housing Provider accepts pet. Certain breeds of dog may not be permissible at our units. Applicant must provide photos of all pets.

SERVICE AND ASSISTANCE ANIMALS: Service and assistance animals are not classified as pets. However, an appropriate application is required for such animals. Additional and specific documentation may be required to substantiate a “service” or “assistance” animal classification, if need is not readily apparent. There is no increase in security deposit, or any other fees, for service or assistance animals. These animals will be expected and required to abide by behavioral covenants of a Service/Assistance Animal Addendum Agreement.

CO-SIGNERS:

NON-RESIDENT GUARANTORS: Some Housing Providers may consider Guarantors (aka “Cosigners”) for Applicants who may have insufficient income, credit, residency or employment history. Guarantors are not intended to “offset” an Applicant who has NEGATIVE criteria; they are only intended to support those with NO or LIMITED verifiable history. Guarantors must be verifiable homeowners and must meet other requirements. Applicant should speak to Agent for additional information and Guarantor qualification requirements.

SUBMITTING YOUR APPLICATION

DELIVERY TO AGENT: Applications must be submitted in person to Agency office. Applications will be reviewed and accepted during specific hours (typically no later than 30 minutes prior to scheduled office closing).

SUPPORTING DOCUMENTS: Applicant must provide all initially required supporting documentation (ie income statements) at the time of application submission. Agent will not accept or process application unless all initial supporting documents are provided.

INTAKE PROCESS AND APPLICANT CONCERNS: At the time Applicant presents their documentation, Applicant is encouraged to disclose any special requests or present any unique circumstances that should be considered in evaluating Applicant’s interest in the property. These “special circumstances” may, for example, include an Applicant request for property alterations, an advisory that Applicant has a “freeze” on their credit reporting access, or any other conditions that should be taken into consideration in evaluating Applicant’s interest and intent to rent the identified property. Lacking any specific “special circumstances” presented by Applicant, application is presumed to be submitted as ready to process without restriction or reservation.

COMPLETE FORM AND FACTS: Each Applicant attests that, at the time of submission, information presented to Agent is full, complete and accurate. Information initially provided is presumed to reflect Applicants’ actual circumstances and intent, not subject to revision or alteration. Applicant request or attempt to revise information post-submission may be considered to be a negative determining factor in the application review and approval process.

APPLICATION FEE: A $40 application fee is payable for each application submitted. Applications and fees are required for all parties 18+. Application fees may be paid by cash, money order or debit card.

APPLICATION PROCESSING AND REVIEW

CREDIT SCORES AND REPORTS

CREDIT SCORE: Agent generates an independently-obtained credit report using one of the major reporting agencies. All Applicants are expected to show credit scores equal to or exceeding 600. Applications with less than 600 credit scores may be declined outright or subject to additional requirements, ie increased security deposit.

EVICTIONS: Eviction(s) within past seven years will be result in an automatically declined application.

BANKRUPTCY: Reported bankruptcies must have been dismissed or discharged at least twelve months prior to application submission.

Agent will attempt to verify the information provided by Applicant, and/or undertake additional appropriate research to verify accuracy of tenancy or employment information provided, using email, fax, telephone communications or any other resources as warranted, in addition to any additional research that may be warranted to verify accuracy of information and risk worthiness of Applicant. Inability to verify any offered information may result in the delay or decline of any application. Instability in the length and/or performance of present/prior residential or employment obligations may be identified as risk factors.

RED FLAG RULES:

As a defined “credit user” under the classifications of the Fair Credit Reporting Act, Agent is required to compare any information independently provided by an application against similar data on that individual that might be discovered via other means (ie credit or other reports). In the event of apparent contradictions or discrepancies, Agent is obligated to delay continued processing of application until that contradictory information is reconciled. Applicants must be prepared to immediately resolve such contradictions when brought to their attention; failure to do so could delay or disqualify any application under review.

ADDITIONAL PROCESSING DETAILS

GROUP APPLICATION QUALIFICATION: If Applicant is applying with any other 18+ individual, negative risk factors of any one Applicant will impact Agent’s approval of all Applicants within that group.

APPLICATION REVIEW TIMELINE: Under optimal circumstances, Agent makes every attempt to have a determination (accepted, not accepted, or accepted with conditions) of any application within a period of three-to-five business days. Delays in processing or other unusual circumstances may affect this timeline; inability to contact references may delay or complicate ability to provide timely updates to Applicant. Applicants are ultimately responsible for ensuring Agent’s ability to communicate with necessary references in a timely manner.

APPLICATION APPROVAL: Agency policy is to offer acceptance to the Applicant (which may be an individual, or a “group” of Applicants who intend to reside together) for whom Agent is most rapidly able to successfully verify information, and for whom the results are returned with sufficiently positive attributes and results.

ONCE YOUR APPLICATION IS APPROVED

“DEPOSIT TO HOLD” – A COMMITMENT TO RENT THE PROPERTY: Under most circumstances, an accepted Applicant will be required to provide to Agent a monetary commitment of at least $1,000.00 (actual amount to be determined based upon specific circumstances) no more than two business days after acceptance notification. Applicant will also be required to execute a “Deposit to Hold” agreement, establishing the remaining steps involved in the contract execution/move-in process.

SECURITY DEPOSIT: Amount of security deposit required of accepted Applicant will be established based upon the analysis of perceived risk factors, as determined in the application screening process. Security deposit will typically range from 1.2 times monthly rent to 2 times monthly rent (rounded up to the nearest $25 increment). Increased deposits – for example, for a pet – are not categorized separately, and are instead classified as an increase to the security deposit itself.

EXECUTION OF RENTAL CONTRACT: Agent will coordinate with Applicant to schedule contract signing appointment. Typically, contract signing is scheduled as close to intended move-in date as practical. If multiple Applicants are signing the contract, the FIRST Applicant desiring to sign must provide any remaining outstanding balance due (rent, pro-rated rent, security deposit, etc) BEFORE being allowed to execute contract. After the LAST Applicant has executed contract (even if that is on another date), Applicants will be granted access to and tenancy of the premises.

ADDITIONAL DOCUMENTS NEEDED AT THE TIME OF CONTRACT EXECUTION: Applicants will be required to provide additional documents at the time of contract execution, ie proof of utility transfer, rental insurance binder, government-issued photo ID, etc. Failure to provide any valid, necessary and requested documentation in a timely manner may delay or void the contract execution process.

RENTAL CONTRACT REVIEW: Each rental contract is custom-created specific to the property and Tenants involved, and is created only after approval of Applicant(s). Accordingly, it may be challenging to review the exact terms of any rental agreement substantially in advance of contract execution. However, a sample rental agreement, indicative of the typical terms and conditions of most tenancies, is available to be emailed to any Interested Party upon request.

IF YOUR APPLICATION IS NOT APPROVED

COMMON REASONS FOR NON-APPROVAL OF APPLICATION: Applications may be declined for a variety of reasons including insufficient reference history (either residency or employment), inability to verify reference history, delinquent rent payments reported by present or previous Housing Providers, behavioral or contract compliance issues reported by present or previous Housing Providers, bankruptcies not discharged or dismissed within the noted time period, credit scores below 600, collections from Housing Providers or utilities, evictions, non-approved pets, or unqualified Co-Applicants.

“BEHAVIORAL QUALIFICATION”: Agent will decline any Applicant who, in the course of the application process, exhibits behavior that is evasive, abusive, harassing, or combative toward Agent or Landlord or whose behavior gives Agent and/or Landlord cause to believe that Applicant cannot or will not comply with the proffered rental agreement or follow the expected rules of residency.

COMMUNICATIONS FROM AGENT: In the event an application is not accepted, the Applicant will be notified via phone and in writing of the general reason(s) why their application was not accepted for the property in question.

REAPPLYING FOR OTHER UNITS USING EXISTENT APPLICATION: Applicants may reapply, using the same application data and application fee, for any other properties offered through Agent for a period of sixty days after their initial application submission.

APPLICANT’S ACCESS TO CREDIT REPORT(S) GENERATED BY AGENT: Due to restrictions imposed by the Fair Credit Reporting Act, Agent may not provide copies of credit reports by either mail or email. Agent can likewise not provide any individual’s confidential information to another person, even if related by marriage or blood. Any Applicant who desires a copy of their credit report must request that documentation IN PERSON, and must provide a government-issued photo ID to verify identity.

NON-RESIDENT GUARANTOR (CO-SIGNER) QUALIFICATION CRITERIA:

APPLICABILITY OF GUARANTOR: Not all properties will consider Guarantors. Guarantors are welcome to submit applications as a “performance guarantee” for Applicant(s) LACKING one or more criteria necessary to be accepted as Tenant(s). Guarantors will not be accepted to compensate for or offset Applicant(s)’ NEGATIVE references or credit reporting history.

SUBMITTING GUARANTOR APPLICATION: Processes established in [b,d and e of category 3 “Submitting the Application”], also apply to Guarantor application submission.

NUMBER OF GUARANTORS PER CONTRACT: Agent will accept only ONE Guarantor to bind performance of contract for all named Tenants.

GUARANTOR RESIDENCE LOCATION: Agent will accept applications submitted from Guarantors permanently residing in any of the fifty US states.

GUARANTOR CREDIT SCORE REQUIRED: Guarantor must have a credit score of 675 or above.

INCOME REQUIREMENTS AND DOCUMENTATION: Guarantor must make annual income of at least 60x monthly rent (equal to 5x monthly rent). Supporting documentation required is identified in section b, iii-x under “Preparing to Apply” above.

RESIDENTIAL OWNERSHIP: Guarantor must be the homeowner of their primary residence as indicated on Application submitted.

DOCUMENTED PROOF OF RESIDENTIAL OWNERSHIP: Guarantor must provide either recorded grant deed or most recent (within 60 day) mortgage statement for referenced residence, redacted as appropriate, but sufficient to show Guarantor ownership of property in question. Guarantor must be identified as individual owner of said property.

EXECUTION OF BINDING GUARANTOR AGREEMENT: Guarantor Agreement is a separate and distinct document, separate but bound to the Rental Contract being executed. Guarantor Agreement must be executed PRIOR to the execution of Rental Contract by any named Tenants.

REMOTE EXECUTION OF BINDING GUARANTOR AGREEMENT: In the event Guarantor is unable to physically execute Agreement in person at Agent’s office, Agent will accept a notarized copy of document with wet signature, transmitted to Agent via overnight mail. Agent receipt of notarized document must occur prior to execution of Rental Agreement by named Tenants. Guarantor must also provide a legible copy of government-issued photo ID with the notarized document.

Request More Info...

Dede's Rentals & Property Management, Inc. is committed to ensuring that its website is accessible to people with disabilities. All the pages on our website will meet W3C WAI's Web Content Accessibility Guidelines 2.0, Level A conformance. Any issues should be reported to keith@dedesrentals.com. Website Accessibility Policy